Opposition MPs ask ministry what it does to prevent mass lay-offs in companies hit by Russian embargo

The move was prompted by the embargo of food products from the European Union imposed by the Russian Federation, which hurt all major Lithuanian processing companies and producers.

“Taking into account the fact that for some time there will be no need to produce goods for the Russian market and before demand in the EU and third countries grows, financial losses will be incurred. We are very concerned that companies will start laying off employees en mass in order to safeguard their business, unless they find alternative markets in a certain timeframe,” said the two conservatives.

They have asked the ministry if it is assessing the situation in relation to the set-out criteria, whether negotiations with the EU have been initiated over financial support from the European Globalisation Adjustment Fund (EGF) to support employees of companies affected by sanctions.